View the original community article here
Last tested: Dec 1, 2020
No, but it would be a great feature request to be able to checkout a tag rather than just a branch.
Use case: You deploy from a previous commit using advanced deploy to local prod.
Your local dev branch is now ahead of local prod. There is currently no way in the UI to revert local deploy to the local prod state. The best way to get out of this state would be to revert to the previous commit you deployed on the remote production side - then you can pull from production.